Leaderboard

I finished taking the RTPT competency exam and passed, they don't give you your actual score but a passing score is from 350 to 500.

>>the IRA contributions are not deductable because I did not pay myself any wages<< Worse than non deductible. The excess contribution is subject to a 6% excise tax every year until withdrawn. Any earnings have to be withdrawn too, and they are subject to a 10% excise tax in addition to your highest tax bracket. If you were audited the IRS might recharacterize your S-corp earnings as wages, so why not do that yourself first? Like MAS says, contact a tax professional in your area.

I agree, Tom. The cloud may be great for a lot of things, but tax data is so sensitive, and so valuable to those who would like to steal your data, that it just makes my skin crawl to think of it floating out there.

Hope your 911 calls are no more frantic than this one! I think his stubbornness will help him heal faster.

The best thing you can do is to contact a tax professional in your area.